EFTA01155611.pdf

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Pay Date • Willkie Farr To Match Cravath Associate Bonus Payouts • Milbank Matches Peers In 2010 Associate Bonuses • Skadden Ups Veteran Associate Bonus By S5K By Hilary Russ Law360, New York (December 13, 2010) -- Susman Godfrey LLP has announced that some of its full-time associates are receiving bonuses of more than $100,000 — nearly triple the standard going rate this year — as more firms release information about their end-of-year payouts. The 90-attorney litigation boutique said Sunday that it had paid annual bonuses to full-time associates that ranged from $45,000 to more than $100,000 and that 10 associates received bonuses of about 50 percent of their salaries. EFTA01155612 "We had another fantastic year, from coast to coast," managing partner Steve Susman said. "We have a great group of young lawyers, and are delighted to be able to pay even bigger bonuses this year." Susman Godfrey also said it made five new partners and that it would continue growing in all of its markets. On Friday, the New York Law Journal reported that associates at Cahill Gordon & Reindel LLP would get initial bonuses of between $10,000 to $25,000 and likely an extra bonus in January of up to $35,000 — in addition to their mid-year bonuses of up to about $15,000. Other firms have been paying more modest bonuses, including Fried Frank Harris Shriver & Jacobson LLP, which announced in a Dec. 10 memo that it was paying associates bonuses of "varying amounts up to $40,000," according to a memo cited on the blog Above the Law on Monday. Fried Frank's bonuses vary based on seniority, quality of hours and hours worked, client service, and contributions to the firm's pro bono activities, the memo said. Associate bonus announcements have been coming fast and furious after Cravath Swaine & Moore LLP set the standard on Nov. 22, saying it would largely match the same levels it produced last year. Other firms have matched Cravath's rate, including Dewey & LeBoeuf LLP, which promised U.S.-based first- year associates a $7,500 bonus, while veterans in their seventh year will get $35,000, according to a memo sent by chairman Steven H. Davis. Both Cravath and Dewey said associates in the 2008 and 2007 classes will earn $10,000 and $15,000, respectively, while those in the 2006 and 2005 classes will pocket $20,000 and $25,000, respectively, and sixth- year associates will take home $30,000 in bonus pay. Dewey went one step further than Cravath, offering an additional discretionary bonus for associates who demonstrated "exceptional performance" in the past 12 months. Bonuses for counsel and associates with eight years or more of experience will be decided on a case-by-case basis, the firm said. Dewey's announcement came a day after Akin Gump Strauss Hauer & Feld LLP revealed a similar bonus payout, including an extra sum for standout associates. On Friday, Proskauer Rose LLP confirmed it had matched the so-called Cravath model, and Morrison & Foerster LLP reportedly followed suit. Other firms including Willkie Farr & Gallagher LLP, Skadden Arps Slate Meagher & Flom LLP and Milbank Tweed Hadley & McCloy LLP have also matched their peers on bonus payouts. --Additional reporting by Leigh Kamping-Carder EFTA01155613 VATODAY'S LAW NEWS Lead Story Picture Congress Can't Require Health Insurance, Judge Says A federal judge has ruled that Congress overstepped its authority by passing the controversial Patient Protection and Affordable Care Act, finding that the act's provision requiring citizens to buy a minimum level of insurance or pay a penalty is unconstitutional. Susman's $100K Associate Bonuses Wallop Other Firms Susman Godfrey LLP has announced that some of its full-time associates are receiving bonuses of more than $100,000 — nearly triple the standard going rate this year — as more firms release information about their end- of-year payouts. Supreme Court Rebuffs Deceptive Law Firm Ads Case The U.S. Supreme Court on Monday denied certiorari to New York in a case that limited the state's ability to restrict allegedly deceptive advertising techniques used by law firms. New House Judiciary Chief Eyes White House Oversight Rep. Lamar Smith, R-Texas, has been tapped to become the new chairman of the House Judiciary Committee and plans to focus his efforts on fighting terrorism, cracking down on illegal immigration and initiating "strenuous oversight of the Obama administration." P ALogin cancel Email: Password: O Remember login? EFTA01155614  Sign In aa_'rgot myjQgin details. 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